If you want to improve your financial status – the good, the bad and the declaration – you’ve got to get a lot of the paperwork right. Before you move forward on your quest, it’s important to get all that has been stacked against you. Do you have to go through thousands of words of bills and negotiations? Are you looking at your own credit status – most of them could benefit from a detailed research into their exact circumstances.
Most bills you’ll write to the CRA should be addressed to the CRA’s general manager. This will basically be the CRA’s legal representative. You should have copies of all of your credit reports, forms, credit checks and forms when you move through the regular credit procedures. Your legal representative should also document all reports and any errors if necessary.
If anything goes wrong with your credit report, it should be sent to CREDIT TRANSITION. Your legal representative will send that to your primary address.
Under the Canadian Fair Credit Reporting Act, the credit bureau must send you a report any time your credit report is incorrect, inaccurate or incomplete. The CRA has authority to award credit rating or life insurance benefits for errors, incomplete or accidental copies or ownership claims. Under the Fair Credit Reporting Act, a mistake on your credit report is grounds for being required to investigate and report it.
You should start working out the costs for your credit repair once you’re a candidate for the Canada Mortgage and Housing Corporation’s Credit Disclose Grant program. This program is free to the eligible credit report bureaus, and you could get a free copy at your request.
The plan is to repair your credit and make it work for you. Pay your bills on time. Do you need a new phone? A new computer? A new CD player? Repair your credit by moving your bills and credit repair items over to the CRA’s general manager’s work. If you notice any of your credit report’s errors or incomplete pieces of information, it’s time to dispute the errors prior to any consequences of your actions.
If the CRA finds that you’ve misrepresented your creditworthiness or your ability to manage your finances, they’ll be held liable. Your credit report is the property of CREDIT TRANSITION. You’ll receive a free copy of your report after your credits are repaired.
A debt management consultant is given 30 days, by which the debt management consultant’s request, to correct inaccurate or incomplete information in your credit report.
Your credit report contains accurate information that the CRA can use to help manage your affairs and other debts. You should seek the advice of a professional, if you find your credit report completely inaccurate or incomplete.
If you’re concerned about the negative effects your credit report has on your credit score, speak to your credit representative in person.
Bad Credit vs. Instant Credit – Which One Is Best?
If you have bad credit, getting an instant credit card is simply going to cost you more money over the course of your life. If you have a good credit record, getting a secured credit card is still going to save you a considerable amount of money but it is important to take advantage of all of your options, be it getting a line of credit or looking at instant credit cards.
So, how do you improve your credit report? First, you should really ask yourself ‘Why me?’. Why take the plunge and have to pay the additional ‘surplus’ cost to get a credit card? You might be pleasantly surprised but it may cost you a fortune. Let’s take a look at some of the benefits that instant credit cards offer.
Savings on Interest
Many credit card companies these days offer special rates to customers on purchases made with their credit cards. The interest rates for purchases are usually referred to as rebates or discount or APR’s. These terms are usually based on several factors, not all of them. Interest rates can vary from about 4% to as high as 23%.
In fact, many instant credit cards charge interest rate of APR’s up to 1%, or for as much as 30 days after you spend that balance, whichever day you decide to pay it off. Many have special rates for the 12 months, 12, 14 and 15 years between 24% and 29%. The interest rates that can be calculated vary from almost anywhere up to 29%.
The Credit Advantage of Instant Credit
If you don’t have a credit history with any specific issuer, those companies may not offer benefits such as the credit card rebates or no rebates on purchases you make with your credit card.